Regulatory Compliance for Financial Institutions

Networking Breakfast and Registration

Opening Remarks from the Co-Chairs

Marie Houde
VP, Chief Compliance Officer
Laurentian Bank

David Parkatti
VP and Chief Compliance Risk Officer
Canadian Western Bank

Opening Keynote Address

Donna Achimov
Deputy Director, Chief Compliance Officer, Compliance Sector
FINTRAC

Russia Sanctions

Addressing the Ongoing Impacts of Russia Sanctions on Canada’s Financial Institutions

Stephen Alsace
Global Head of Economic Sanctions
Royal Bank of Canada (RBC)

Suhuyini Abudulai
Partner
Cassels Brock and Blackwell LLP

Paul Johnathan Saguil
Deputy Head, Global Sanctions Compliance and Anti-Bribery/Anti-Corruption Program
TD Bank Group

Moderator:

Bob Kapur
Director, Financial Crime Compliance & Money Laundering Reporting Officer
Sun Life Canada

The Canadian sanctions against Russia are complex and rapidly evolving, with significant exposure risks. During this panel discussion, we will explore:

• The latest developments related to sanctions against Russia
• Best practices for identifying Russian touchpoints
• Assessing the impact of the Special Economic Measures Act
• How to evaluate risk exposure and develop response plans

Morning Networking Break

Open Banking in Canada

How to Prepare for the Legal and Technical Challenges of Open Banking Framework in Canada

Brian Harris
Chief Executive Officer
Interior Savings

Oscar Roque
VP, Strategy, Innovation Partnerships & Emerging Solutions
Interac Corp.

Elizabeth Sale
Partner
Osler, Hoskin & Harcourt LLP

Lisa Sattler
Senior Advisor, Public Policy
Payments Canada

Moderator:

Edgar Barbosa
Partner
PwC

Open banking, a form of consumer-driven finance, aims to enable consumers and small businesses to share financial data with a diverse range of financial service providers through secure online channels built for a consumer-centric financial experience. During this panel, explore the landscape of the Open Banking Framework in Canada. Discussion points include:

• Promoting consumer choice and prioritizing data privacy regulations
• Tips for implementing a ‘hybrid, made-in-Canada’ Open Banking system
• Addressing security vulnerabilities that can undermine full open ecosystems
• Key recommendations from the federal Advisory Committee on Open Banking
• Clarity on the regulatory standards governing the Open Banking API

FCAC Spotlight on Consumer Protection

Key Enhancements to the Financial Consumer Protection Framework

Philippe Pellerin
Manager, Supervision
Financial Consumer Agency of Canada (FCAC)

Effective June 30, 2022, the Government of Canada introduced a new Financial Consumer Protection Framework under the Bank Act to expand measures in which “banks are held to a higher standard in their sales practices, complaint-handling procedures, and provision of information so customers can make informed decisions.”

The Framework includes more than 60 new or enhanced protections aimed at strengthening the financial health of Canadian consumers. Join this presentation to hear about FCAC’s early observations in the implementation of the framework.

Networking Luncheon

Financial Consumer Protection Framework Deep-Dive Sessions

Part I: Top 5 Pitfalls to Avoid When Handling Customer Complaints within 56 Days

Marie Houde
VP, Chief Compliance Officer
Laurentian Bank

Jane Ratchford
Vice President, Compliance, Canadian Banking
Scotiabank

Waqas Rana
Vice President and Chief Compliance Officer
Old Republic Insurance Company of Canada

Moderator:

Lucie Tedesco
Counsel
McCarthy Tétrault LLP
( Former FCAC Commissioner )

For the first time in history, banks are required by law to manage complaints within a specific time period. Join this panel to learn the ins and outs of handling customer complaints in an effective and compliant manner.

Financial Consumer Protection Framework Deep Dive

Part II: 8 Ways to Measure the Effectiveness of Your Whistleblowing Program

Lisa Cinelli
VP, Chief Compliance Officer, CAMLO, and Chief Privacy Officer
Equitable Bank

Bradley Hamilton
VP, Enterprise Conduct & Global Ethics Officer
Scotiabank

Preston MacNeil
Associate General Counsel & Director, Global Anti-Corruption
BMO Financial Group

Sandy Stephens
VP & Chief Compliance Officer
Alterna Savings, Alterna Bank

Moderator:

Vladimir Shatiryan
Partner
Blake, Cassels & Graydon LLP

The FCAC’s Guideline on Whistleblowing Procedures for Banks and Authorized Foreign Banks (Guideline) maps out expectations for banks and federal credit unions implementing whistleblower programs. During this panel, explore:

• Promoting an overall culture of compliance
• Implementing accessible whistleblowing policies and procedures
• Identifying and addressing the top pain points of a whistleblower program
• How to effectively interview whistleblowers

Afternoon Networking Break

OPC INSIGHTS

Privacy Enforcement Developments Relevant to Canadian Financial Institutions

Michael Maguire, LL.B.
Director, PIPEDA Compliance Directorate
Office of the Privacy Commissioner of Canada

High-level changes regarding the three pieces of legislation, including privacy, tribunal, and Artificial Intelligence

• Updates on revised penalties for non-compliance
• Harmonization between the provinces and Federal Government
• Tips for avoiding administrative monetary penalties (AMPs)
• Amendments to the Personal Information Protection and Electronic Documents Act (PIPEDA) and Consumer Privacy Protection Act (CPPA)
• A provincial versus federal overview of privacy laws impacting FIs in Canada

Cullen Commission Report: 5 Months Later

Key Industry Takeaways for Canada’s AML Regime and Your Compliance Program

Garry Clement
Chief Anti-Money Laundering Officer (CAMLO)
Versabank

Erin Hunt
Director, General Financial Crimes and Security
Department of Finance Canada

Jeff Simser
Legal Director
Ontario Ministry of the Attorney General

Gary Valiquette
Assistant Crown Attorney, Guns and Gangs Task Force
Ontario Ministry of the Attorney General

Closing Remarks and Day 1 Concludes

Networking Breakfast and Registration

Opening Remarks from the Co-Chairs

Marie Houde
VP, Chief Compliance Officer
Laurentian Bank

David Parkatti
VP and Chief Compliance Risk Officer
Canadian Western Bank

CRYPTOCURRENCY & DIGITAL ASSETS

Exploring Canada’s Cryptocurrency and Digital Assets Regulations: Key Takeaways and Lessons from Recent Enforcement Decisions

Alison Beer
Senior Legal Counsel, Derivatives
Ontario Securities Commission

Adam Garetson
General Counsel and Chief Legal Officer
WonderFi

Usman Sheikh
Partner
Gowling WLG (Canada) LLP

Kuno Tucker
Global Chief Compliance Officer
Coinsquare

Canada’s current cryptocurrency and digital assets regulations have evolved. During this panel, we will explore:

• Addressing the evolving aspects of regulatory compliance in the retail financial services and payments industry at both federal and provincial levels
• Addressing the explosion of the digital assets industry
• Navigating the ground rules set by Canadian regulators to understand the impact on digital asset businesses and the cryptocurrency outlook in Canada
• Provincial outlook during a time when provincial securities regulators are not adopting consistent regulations
• Ensuring responsible development of digital assets

Morning Networking Break

Climate-Related Risks

How to Measure and Report the Financial Risks of a Low-Carbon Transition

Financial institutions in Canada are in the early stages of building climate-related risk assessment capacities, with many considering climate-related transition risks to be particularly complex to analyze. This session will provide guidance on –

• Reporting on climate-related financial risks in accordance with Task Force on Climate-related Financial Disclosures (TCFD) framework
• Assessing climate-related risks impacting Canada’s FIs
• Bank of Canada/OSFI 2022 pilot that assesses climate-related risks
• Analyzing economic and financial risks created by climate change
• How to identify and measure transition-related impacts
• What is happening on the international scene?

Keeping your Compliance Team Ahead of the Curve: Best Practices for Measuring Regulatory Compliance Risk Within the Broadening Regulatory Landscape

Theo Ikonomou
Chief Compliance Officer, CAMLO & Chief Privacy Officer
KEB Hana Bank Canada

Neil Lacroix
Canadian Legal Counsel and Head of Strategic Initiatives
MUFG Bank Canada

Chris Mullin
Assistant Chief Compliance Officer & Advisory
Sun Life Canada

Ajay Vashisht
Chief Compliance Officer
Co-operators Financial Investment Services Inc.

Moderator:

David Parkatti
VP and Chief Compliance Risk Officer
Canadian Western Bank

We are seeing an accelerating trend of emerging regulatory risk areas (e.g. climate, technology/cyber, AI/data ethics, third party, culture risk) gaining prominence with stakeholders and fully entering the regulatory sphere. Yet legacy operational taxonomies and risk measurement approaches have been slow to adjust. This session will provide practical industry insights on:

Networking Luncheon

ESG BEST PRACTICES FOR FINANCIAL INSTITUTIONS

Determining Where ESG Oversight Should Live in the Organization & Preparing for Mandatory ESG Disclosures

Scott Hitchings
Legal Counsel and Manager of Regulatory Compliance Management
First Nations Bank of Canada

Bindu Dhaliwal
Vice President, ESG
CIBC

Gilberto Cedolia
Director, Executive Office & Strategic Initiatives, Financial Crimes Risk Management
Scotiabank

Markus Giese
Head of Compliance
Zurich Canada

Scott Morrison
Director
PwC Canada

FINTRAC PRESENTATION

Strengthening Canada’s AML Regime

Nathalie Martineau
Regional Director
FINTRAC

Join us for a presentation featuring insights from FINTRAC on common issues it has identified on various programs at Financial Institutions in Canada through an AML/ATF Program focus.

CDIC Insights

How CDIC is Navigating the Evolving and Complex Financial Landscape

Emiel-Johan van der Velden
Head, Depositor Solutions, Insurance & Compliance
Canada Deposit Insurance Corporation (CDIC)

Several amendments to the CDIC Act that strengthen deposit insurance protection for trust deposits took effect April 30, 2022. The new rules are important because they impact how CDIC protects deposits held by trustees.

• CDIC Observations: Understanding CDIC’s new coverage framework and lessons in the 6+ months since its implementation
• What’s Next: CDIC’s proposed redesign of the differential premiums system
• CDIC Payout Modernization Initiative: What it will mean for CDIC Members, Nominee Brokers, Professional Trustees, and other depositors
• A CDIC lens on FinTech: Why CDIC cares about FinTech

Networking Break

FSRA Presentation

The Journey of FTC Implementation

Swati Agrawal Nevatia
Financial Services Regulatory Authority (FSRA)
FSRA

Insights from OSFI

Compliance Effectiveness 2022 and Beyond: A Regulator’s Perspective

Arlene Stephens
Director, Compliance
Office of the Superintendent of Financial Institutions Canada (OSFI)

Join us for a presentation featuring insights from the Office of the Superintendent of Financial Institution (OSFI) on the common issues it has identified in various key programs at financial institutions in Canada. During this presentation, OSFI will discuss:

• Key items that Chief Compliance Officers should address as they seek to mature their programs
• Best practices for making compliance programs more resilient

CYBERSECURITY RISK

A Review of Fraud, Compliance, and Cybersecurity Risks Facing Financial Institutions in Canada

Imran Ahmad
Partner, Co-Head of Information Governance, Privacy, and Cybersecurity
Norton Rose Fulbright

Alena Thouin
Chief Operating Officer
Ontario Financing Authority

Final Guideline B-13, issued July 13, 2022, and effective Jan. 1, 2024, establishes OSFI’s expectations for how federally regulated financial institutions (FRFIs) should manage technology and cyber risks. During this panel, we will explore:

• Preparing for OSFI’s Guideline B-13 by January 2024
• Exploring the basic elements of the new AI and Data Act and its framework for high-impact AI systems
• Ensuring your organization’s cyber security framework meets compliance
• Addressing the sharp increase in cyber incidents impacting Canadian FIs
• Addressing the management and oversight of third-party provider risks
• Managing and developing appropriate risk response protocols

Conference Concludes